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tv   Cavuto  FOX Business  November 23, 2013 6:00pm-7:01pm EST

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neil: where were you 50 years ago this very hour? at 8:00 p.m. eastern time in the body of john f. kennedy was in washington f an autopsy that would drag on for hours. but still ultimately lead more questions than answers. think about where we wer as a nation at this very moment coming half century ago. it might even lead to war. concer that no one was safe and the reality that all innocence was off. fifty years ago this minute, a grieving jacqueline kennedy was being peppered with plans for a state funeral.
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this night she would mention camelot being lost and a mart was on. it was sadly all coming together at this hour on this day and that includes every major global leader converging on our nation's capital with a horse-drawn rriage that had plastered abraham lincoln with through the same streets. she waited to take her husband home one last time and ane era. the the reality of all this heading home this hour on this night for a country that would be fixated on nothing else these next few days. a friday night then as it is now. but as different as night and
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day. that is why we are breaking to understand the brave from everything we knew 50 years ago tonight. better to see the man through the met and we begin with knew jack kennedy really was. not that clueless rate and tonight, jfk is the pragmatic politician that you might not now and he does some remarkable things. lessons and warnings for it the president then and now. that is what issthis what about john kennedy. how thereas no predictable mold to john kennedy. that is what defined him in history and leaves us guessing in history. just ask a historian.
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rick, this happened after the fact,but let's go back who he was, and think one thing that comes through loud and clear is not easily labeled, not a conservative but very pragmatic. >> and these are terms the change with every generation. it is the one at was supposed to be in theearly 1960s and jfk as a politician, of course, always one of these terms to be flexible.
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this includes jfk ing a liberal in the classic mold. it has pretty much been debunked by historians if you look at his backing of the civil rights movement. he was kind of weak kneed the first couple of years and then offense finally pushed into it and he got more liberal on the issue. talking about his tax cut policy, which is what i think what you really want to talk about here is jfk who started out fairly conservative on tax cuts and e was not a conservative when it came to government policy. so it is a mixed bag. >> he did go after this industry and the irony, i will get into
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this with my day in san fran david asman, the message that he was trying to convey. it was always about getting this united states off the map that the russians were beating us in space, we had kind of lost our prestige he was concerned about that nd it was a slowdown that he wanted to bring us out of that but ironically with tax cuts and things that wou be friendly to businesses, including cuts in investment. so had he lived, do you think ultimately -- but those tax cuts did go into effect i did have the desired effect but they said that they would? would be asuccess more than lyndon johnson ultimately would? >> let's talk about his. because one of the things that's important to underand is when he first comes into office, he is concerned about deficits as
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are most americans and he was actually opposed to tax cuts and then he says that we need a tax cut toet this economy going. and eventually the revenues will start to inccease. >> at that time come about, that was actually considered part of ynesianism. you had some liberals who said that it's really all about spending. and jfk rejected that, he rejected what was favored, which
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was let's have a lot of spending programs. neil: would he have gone along with lbj's plan and i. >> i am not so sure that he would have. because he was very concerned about ho the impact of these deficits were going to be on the country. but he rejected the idea that we should have deficits define economic policy. because he said that if we can get the economy going, and we will have much greater productivity and ultimately this will increase. and if you look at that, but he had put it into place, he did not just cut the marginal tax rates from 91% on the 70% for personal income taxes, he also cut corporate taxes and he also made it shorter that they close up a lot of loopholes and $3.5 billion in loopholes that actually raise revenue for the
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federal government. >> he was an advocate of the system. i want to thank you. that's a very good perspective. a lot of you might be watching thing that is what neil and rick are saying there'so way to jfk said that. but yes, he did. check this out. >> every dollar lease from taxation will help create a new job. and these new jobs and salaries create other jobs and salaries and the created tax cuts. creating more jobs and more income across the board, top to bottom cuts in both corporate and personal income taxes. >> can you imagine any modern liberal state in agreement or president obama saying the agreement the thing is that he believed igrowth for everybody. he did not believe in blamg one group against another, pitting one group against
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another. his famous phrase was a rising tide lifts all votes. the goal nowadays for the modern liberal and president obama is included in us, his income redistribution and that trumps the goal of growth for everybody. they are more interested in this is not just saying a sameness, this is why friends of president kennedy like joseph also been others say that he didn't like liberals. he did not like liberals because he believed that liberals would sacrifice what is good for the entire country for the sake of their ideological commitment and ss oes the wall street editorial page. bob bartley and milton friedman is to say that, it is very often a corporation. >> you ever wonder what he would think today of veterans that
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provide $85 billion per month t keep the market goinng and the economy going? >> that's a good question. i don't think he would be in favor of it because he sees the reaction. neil: the things a lot easier for conservatives to say, we have 90 plus and he brings it down to 70 or whatever the
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federal government will ultimately end up with more revenue and that is the heart of tax cutting you a nice breeze. and that is what kennedy embraced and that's exactly the opposite view of the current administration. neil: thank you, david, thank you so much. and would he endorse the big health care law that is now a mess today? meet the business owne who says it's driving her to drink. >> obamacare had negatively impacted us. i had o children or history of ug abuse. not yet.
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>> i received notice from blue cross blue shield in september that my health care plan was going to be canceled and it was going to be replaced by one that had been chosen for me and i will never except for someone to make my health care oice for me. i have no children. i have no history of alcohol or drug abuse yet. okay rematch because this is driving me to drink. [laughr] neil: that was good. complaining about the health care law last week. theeceo joinme rightnow. an argument for the problems of this whole lot. so where are you now and is there any improvement?
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that averages about 136%. for me and my gender, it's just under 200%. >> i said in my testimony that i think that every individual should have affordable health care. andthere is a way to go about it. i don't think what you want to do is have the individuals that are here.
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neil: so wheredo u thik that we lay right now and are you'll like otherthat we have had here, betr something than nothing? >> and the government is actually chipping away at my freedom. my freedom to choose the health care services that i want, i just can't -- i cannot accept that. neil:: so you wouldn't be eligible for the subsidies. those cut off for families, vingven said that, this does
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settle down. it gives people time to read those and all the options that are out there and everything will be okay and sheila, you needn't be driven to drink. this will work out. what do you think? >> they are off track. and business owners like mself are not going to accept it and th government needs to understan and this is absolutely unacceptable. so i don't think it's going to go away. so from what i've hard the past few days, it is definity not going away. this is just stirring it up and
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we, the people, we are tired of it. neil: thank you, sheila. >> thank ou. neil: do anyof you remember the protest things to push on unemployment befits past the 99 week when the agreement that was 300 days ago. the democrats are pushing for still more jobless been in. bny mellon combines investment management & investment servicing, giving us unique insights which help us attract the industry's brightest minds who create perful strategies for a country's investments which are used to build new schools to build more bright minds. invested in the world. bny mellon.
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>> has been 240 week and 11 temporary extension since the first unemployment benefits were
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filed. instead of pushing for more handouts, maybe they should be pushing for more jobs. linda is here to hash it out with adam lashinsky. >> this is the type of backwards thinking that we have been getting accustomed to coming out of washington. and this includes addressing the underlying structural issues. at this point, we should be having meaningful discussion about tax reforms and pro-growth and pro-business policies and instead what we are hearing from is me handouts and welfare and keeping americans on this. this is perpetuating the problem neill i guess things are pretty bad. but are we just, are we making a bigger mess of this?
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>> i will say straight out. i don't know what the right amount of time is. so i am trying to be humble about that. but what i do know is that the people, obviously we still have high unemployment and people are still hurting and we are cutting the social safety net in other ways as well. we saw what happened with food stampsand we saw what has happened with a great number of states fusing to participate in the affordable care act whic has ramifications on pple like this. so what i am arguing for is that we cannot cannot do all of these things atonce. we have to figure out how to take care of people, wther it is extending unemployment benefits or not, i don't know. i dn't n't buy the argument that is encourages people to not look for work. it is not like they are living high on the hog with unemployment benefits. >> this is intended to be a short-term supplement. if there really was more correlation between increasing
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the jobless benefits,why would we not just extend them indefinitely or for a lifetime? the reason is because there is a correlation and as we see jobless benefits increase, there's a positive correlation th a reduction in that incentive to actually go out and look for a job. of course, that is not all people, but on the margin, there is not a fact. neil: i think what happened is that people have gotten used to the government as a backup. the big banks and know that the government will always have their back, you know, those behind on their mortgages, those have a job, the trouble is the government doesn't have enough money. it might sound cool to say that thwll has run dry, but it has. we are knee-deep o out here. >> i know that i am supposed to disagree with you, but i think that you are right. people have come to think of the govevernment as a backstop and i think the government should be a
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backstop. neil: but there's a limit to be had, right? >> yes, quite literally there are limits. so i do think we should have a policy discussion on what it should and. i think though that when people are hugry, that is where yo end it. and it's debatable as to whether not the well has run dry. we still have tremendous economic power in this country to he people in need and we are not there yet. >> my fear is that even when they say that we are home free, the fact of the matter is that it's all a credit line. and we are we're going to have to make some har choices here. >> we certainly are. and i think, the other guest is exactly right that we need to have a discussion of oneness needs to end. i would like to see our political leaders stepped out and say that we know you don't want to stay on the government. we know that you don't want to
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be reliant on the federal government indefinitely. so i would like to hear more of we need the ameeican public off of that moving them back into the private secor. taking some responsibility for the individuals. that is the type of proposal that we need to be hearing from officials. neil: i would just add that we have made difficult choices and they are not always good choices. we have crumbling roads and bridges and we don't have enough people who have access to good medical care. we have cut down on food stamps. we have cut down on the military. we have made some tough choices. and were going to have to make more. neil: times are tough, but they are not depression toug. i think that we have tomake tougher decisions because that does not match the reality of the economic recovery or the resources that you say that we have. >> the problem is the way that we have is civil conversation among t three of us, that's t the way that the
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conversation happens in congress. there's another side that said let's cut everything because all of these programs are bad. [laughter] neil: i want to thank you. in the meantime, the latest privacy invasion and the government. and this one could be outright illegal. we debated and you decided. we will have that next
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the one you have probably heard about this. the government is constantly tracking the vehicle, it's like, oh my goodness, he beats his ildren and their. [laughter] enact critics are saying it's a
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massive privacy invasion. we have two individuals oon this topic. >> i think it's more than creepy, i thinkt's unacceptable. to have a device in your vehicle that tracks what you're doing and if you pass the light, all of these specifics that are now unregulated. the government has yet to regulate who can use that for what purposes it's like oh, i got ke oh, i got this and they tried to introduce that and try to use that against people as evidenced.
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>> what do you think we might do think that this can go too far? you definitely can't go too far. when they are tracking how many people are in your car, how fast you're going, if there is an argument in the car, that is a very lrge invasion of privacy and it goes beyond big brother where there is nowhere that is off-limits and you can't have a conversation without someone hearing it. >> you should see the knucklehead i had driving. >> we want to track this person, we think that they are suspicious. when they track the person for days and months and years, the appeals was gone when police put tracking devices and thus not an invasion of privacy.
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>> so what if you are carrying a cell phone or iphone and they contracted through that. >> the argument is that we need to do this now an we need to make it a more blunt instrument. so marty has a device in a car. >> you're absolutely right. theinformation is being disseminated in a new car already as a black box in it so i can re-create what happened at a time that crashed. >> let's say le's say today she realizes i'm veeringff the road. and then she could interpret that to mean that i am dodging
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out. >> they can use that against you in a divorce proceeding. >> and seis saying what if the uple decides they want to divorce and someone starts to monitor the other couple. where are the limits? if you've got copd like me, hey breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms.
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neil: aother feature of obamacare after the midterm election process. some say it's no coincidence here. >> it points out just how determined thatt harry reid and the democrats were, shutting
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down the government by october 1. and of course the first bill we passed would totally be from obamacare, and we knew that it went straigh to a compromise, a one year suspension of the whole thing and that really gave them this about giving your adversary the graceful way to exit. and he will have a comromise against oursves. neil: he is actually doing it for other reasons with the impact of all that, which will be devastating on millions of folks who are likely at the very least senior policy trying to say that after the eltion, the reality, i imagin he won't let that happen. >> we know the people are getting hurt.
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we just read the letter and i thought, okay, they found one person in the country that obamacare has really worked for. the people in texas, it was like a thousand to one the other way. so i won't know who they a going to find where they can say, okay, here's someone we actually helped. neil: while yoou are here, with the jfk assassination, we are talking about howtexas just has a scar and a stigma attached to it for so long. despite all the friendly crowd and everything on it. that was just a heat city and a heat state for so long. >> it was so tough. i was a small child, a little bitty kd and i will never forget our elementary teacher coming in and saying that president kennedy has been shot and we just couldn't believe it
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and people were crying all over and that ived 100 miles east of dallas, and we just couldn't believe it, we are putting ourselves on hospitality. and kennedy and other people were saying that they were trying to win back texas. but my understanding, i loveo hear the adults talk. he was asked to come to texas because there is a rift between johnson and yarborough. >> he was really blanketing the state. >> i never heard that one before. but yes. when a man has been shot and killed, there is no way you're going to hold them for some comment like that.
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>> i guess that he ws warned that it was a very toxic environme and he had been pushed and shoved them in there was a lot of violence there already. and i don't know if texas really ever laid that down. the people are clearly happy to see them. and howlong did thistake for texas to get over >> i don't think it has been completely gone over. when people hear you are from texas, as we have talk about honor, they still ask, oh, yes, and you know about kennedy being killed, so it's still international, i wsh they would have thought of this soap opera or something else. but too often they think back to it. even 50 years later. but it was a blight upon texas to a man who is coming really to help heal people.
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neil: he was coming to passover this coming and he was concerned engh aboutis reelection that he did this. and it was a cautious jfk going. and in retrospect, do you think it's aded caution? >> oh, absolutely. >> i say that and then we have a president that is not cautious about making any political trips, he makes them every week. neil: they raise a lot money. >> yes, but it mmkes them more cautious, and people think about that scene and you know i still have the life magazine of those scenes in my office so those were tough days. very tough days. and it is embarrsing and especially he really was being magnanimous coming to texas,e wanted to be a peace maker and
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bring the factions together. and this was a guy believed in lower taxes and helping the economy. neil: absolutely. thank you, congressman. in the meantime, you know the we are remembering someone else on this day. twenty-three years ago. margaret thatcher stepped down as the prime minister of great britain. we will have it for you. we will have it for you. very useful advice for this is the quicksilver cash back card from capil one. it's not the "limit the cash i earnvery month" card. it's not the "i only earn decent rewards at the gas station" card. it's the no-games, no-signing up, everyday-rewarding, kung-fu-fighting, silver-lightning-in-a-bottle, bringing-home-the-bacon cash back card. this is the quicksilver card from capital one. unlimited 1.5% cash back on eve purchase, everywhere, eversingle day. so ask yourself, what's in your wallet?
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neil: i want you to go back 23 year years ago today. margaret thatcher stepping down
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from office. let's put the tape back to that day and try to relate it to a different guy. >> the debt problems that we have a long-term. >> we have done it wiih the trade unions to control and victimize the individual worker. >> without the loving hand, monopolies can stifle competition's and the vulnerable can be exploited. >> we are done enabling families to own their home. >> giving people choice and public services. >> consumers do better when there is choice and competition. the real issue was decided by my honorable friends, how best to build on the achievements of the 1980s remapped the 1980s are now calling us with foreign policy. because the cold war has been over for 20 years. >> we left out part of that.
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get a clue. okay, a former thatcher advisor here on her legacy then and now. now, very interesting contrast juxtaposed against this president's ongoing message. what do you glean from that? >> i have to say that it doesn't compare with margaret thatcher is a world leader. margaret thatcher was there talking about why free markets work and why capitalism works and why policies actually advanced individual freedom actually succeed, and she demonstrated this in great britain in the 1980s, rolling back the frontiers of socialism in taking britain off of its
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knees, cutting government spending, cutting taxes, and you look at the united states today with barack obama implementing exactly the opposite kinds of policy and this is $17 trillion in debt, facing a pepsi in the long run, possibly and then you see a reversal of these very damaging big government anti-free-market policies. so barack obama them anyways is the antithesis of margaret thatcher and that is why america looks like a superpower on the path to decline. neil: the british accent works for me. and here is what i have to ask about. e history is pretty consistent on what you get from a streamlined government, tax cuts, trying to promote business activity and not vilify it. that under republican and democratic presidents in this
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day,e are looking back at john kennedy, tax cuts came back to fruition sadly after his death. i'm wondering why that message doesn't come through or that liberals tend to think that that's just a lucky break. >> that's an extremely goo point, actually. president obama is a leader in demaio, frankly. america is looking more like great britain in the 1970s. britain had to go to the imf for a loan for it to avoid bankruptcy because it had built up such huge levels of debt as a result of overspending and margar thatcher ma the point that the problem with socialist government is that eventually they run out of policy with money to spend and what we are seeing in america today is a deep-seated antibusiness mentality about this administration, that is the mentality that is driving euro two destruction today.
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and it's a mentality that will ruin the united states. i do think the leadership lessons proved by them are badly needed here today in america. neil: it's always good to have you. thank you so much, my friend. en we come back to remembering this other anniversary, what if i told you that these fellows on the ight would not have been possible without john kennedy? what i am saying is that he actually invented the internet. actually invented the internet. sorry, al go customer erin swenson ordered shoes from us online
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just by talking to a helmet. it grabbed the patient's record before we even picked himp. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and adiums. but, of course, 's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before.
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the ocean gets warmer. today cisco is connecting the internet of everything. the peruvian anchovy harvest suffers. it raises the price of fishmeal, cattle feed and beef. bny mellon turns insights like these into powerful investme strategies. for a university endowment. it funds a marine biologist... who studies the ruvian anchovy. invested in the world. bny mellon. neil: one thing that is lost is what john kennedynot only did on tax cuts, being pragmatic to gr business, but what he did for the space program and the ancillary effects that it it had on almost all things technology. i firmly believe in my desk and
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argued is that it's nt -- if it weren't for john kennedy, i don't think we would have a gadget nation or the technology. because he provided a foundation that encourage that beuse it all began with space. that also means because of him we had tanks, so we didn't exactly hit it perfectly. but we have two guests on the jfk tech boom. what do you make of that? that he provided the foundation for a lot of these companies as well? >> i think you make a great point. when you think about it, oth than our national defense, it is really, as i recall, the last time the government really worked effectively. they took a project they are that was really kind of unsolvable. they alloced a certain amount of money, which they did exceed, but they did the unthinkable and in a relatively short timeframe. right now we are going the opposite way where we allocate
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lot of money for things like obamacare, and it just gets worse by the day. >> i think you're on a great point. the legacy that kennedy provided was not necessarily political come but i think it was in terms of inspirational. he understood what the world looked at and the implications of what he suggested them what it would be and were he alive today, i think e would be roud of what in fact has been created using this to start. neil: we always forget that the idea wise, at that time, to stop the soviets because there is a real concern. but fter that he was genuinely concerned about man reaching beyond this planet, and tat started this technological fervor. but it eased a bit when we cut
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back on the program to the likes of which really was a full retreat and something that we dominated. and that's what rries me. >> i think you are right. although on the other hand i would say that it was the internet, you know, with government agencies, but it really expanded and exploited when private industry was allowed to spread its wings, if u will. and if you think about it, the one industry that is probably e most lightly regulated right now and is growing the most is anything related to the internet. others like industry and transportation all have the tentacles of government around and i think when government steps back, industries are allowed to grow and profit. neil: we also have a comparison with data markets. it ultimately gt the word, john kennedy had been shot, and he would not finish above finished
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above 1000 for another 10 years and it closed again until 1982. we are seeing this kind of game that we established since that time, that was done in one year this past year. so what do you make about? >> think it's a mbination of things, buright at the top of the kermit is the fact that we have this said, you know, pullg all of the easy money into the market and profits have remainedteady. you know, some of the ch companies have done well, you know, oil prices have remained stable and we have a couple of underpinnings. but i think it's really do to ben bernanke and now probably still e markets will go up. en you step ba from all of that, in thelong term, the markets go up. >> yes, just come and they go up for one reason and they have
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